$1000 extra for hardwood in kitchen, worth it?

Question

Got a 250 sqft kitchen that I'm trying to decide whether to put laminate myself or hardwood installed by a professional.  The cost difference between the two options is around $1000, maybe $1500?

House ARV is in 180-200K range...

Account Closed · Answer

In that price range, I would go with hardwood.

Chris

Travis Sperr · Answer

Hardwoods, it is a sizzle item. Although not adding any over all value, the property could be more marketable hopefully bringing you an offer. Depending on your financing, a $1000 now might save you a hard money payment or three.

Also I think the difference should be less, an additional $1000-1500 sounds high.

Aaron Mazzrillo · Answer

Depends; are you selling this property or is it a rental? I have put the laminate in my rentals and it has lasted a long time and looked great... in some instances. I have also had it warped from water leaks and edges chipped off from lazy ass tenants dragging furniture across it.

On a flip, most home buyers don't the know the difference. It looks real nice. It makes a weird noise when it is walked on in high heels or hard soled shoes, but I am told the engineers have figured out how to lessen that problem and the newer products 'sound' much better.

I use it in flips for 1 reason: Home owners walk in, they look around, if they like the place they make an offer. They don't get to move in until after escrow. If they move in before close of escrow, they start to nit pick every little thing and I am sure they might complain about the flooring. You are not going to get any more money on the sales price for hardwood and appraisers don't care in any way, shape, or form about the quality of your flooring.

I guess it just comes down to; Do you want $500 more or less when escrow closes?

Rob Gillespie · Answer

It will add marketability, but not value. What do your comps have? Some buyers would rather have you contribute to closing costs, or throw in a 50 inch flat screen. Do not get caught up in you wants over the potential buyers needs! Good luck!! :D

Chris Sweeney · Answer

Hardwood all the way at that price point.  Laminate looks and feels cheaper.

$1000 extra for hardwood in kitchen, worth it?

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